Vol. 26, No. 3, Fall 2003

Cover Story

Guys in Lab Coats

Letting Environmentalists’ Preferences Count Why do free-market thinkers turn to scientific risk analysis instead of markets to set environmental policy? by Peter Van Doren (PDF, 243 Kb)

Features

Law

The Case Against Plea Bargaining Government should not retaliate against individuals who exercise their right to trial by jury. by Timothy Lynch (PDF, 289 Kb)

In Defense of Plea Bargaining The practice is flawed, but not unconstitutional. by Timothy Sandefur (PDF, 242 Kb)

Environment

'Green' Firms Bearing Gifts Will “voluntary” initiatives by business and regulators improve the environment? by Thomas P. Lyon (PDF, 383 Kb)

Medicine

Between- vs. Within-Patent Competition Name-brand drug competition may have more effect on innovative returns and prices than generics competition. by Tomas J. Philipson and Carolanne Dai (PDF, 376 Kb)

Accounting

Beyond GAAP Much of today’s business world evolves around values that do not appear on balance sheets. by Robert E. Litan and Peter J. Wallison (PDF, 449 Kb)

Corporate Reporting Enters the Information Age XBRL will produce more effective reporting through market-based standards. by Mike Willis (PDF, 247 Kb)

New Technology Can Help Avoid a Second EnronThe SEC needs reporting processes for the Information Age. by R.T. McNamar (PDF, 289 Kb)

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Regulatory Review

A Mid-Term Grade for the Bush Administration The administration has shown a strong commitment to developing more cost-effective regulations, but its commitment to federalism appears mixed. by Brian Mannix (PDF, 275 kb)

Tracking the Value of Regulation Can government reporting help bring rationality to regulation? by Robert W. Hahn and Erin M. Layburn (PDF, 247 Kb)

More Lonely Numbers Regulations should be decided by a political process, not more benefit-cost analyses. by William A. Niskanen (PDF, 151 Kb)

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Mercatus Reports

EU Chemicals Policy | 8-Hour Ozone Standard | Dietary Ingredients and Supplements | commentary: A New Watchdog for Freddie and Fannie? (PDF, 312 Kb)

Briefly Noted

Is CEO Certification Credible? by Utpal Bhattacharya, Peter Groznik, and Bruce Haslem | The Benefits of Mandatory Auditor Rotation by Thomas J. Healey and Yu-Jin Kim (PDF, 280 Kb)

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In Review

The Real Environmental Crisis, by Steven Stoft | Democracy by Decree, by Ross Sandler and David Schoenbrod | On Borrowed Time?, by John E. Tilton (PDF, 231 kb)

Final Word

Politicians and Magicians by Penn Jillette (PDF, 156 kb)